TPR agrees £770m settlement for Sanofi Pension Scheme

The agreement will help protect the benefits of 16,500 members in the underfunded scheme

Hope William-Smith
clock • 2 min read

The Pensions Regulator (TPR) has worked with Sanofi Pension Scheme trustees to secure a guarantee package with substantial deficit repair contributions following ongoing concerns about its progressively weakened direct covenant.

A regulatory intervention report published by the regulator today (15 June) showed Paris-based healthcare company Sanofi's defined benefit scheme is now set to receive additional protection of up t...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Hundreds of small schemes 'completely oblivious' to buyout proximity

Hundreds of small schemes 'completely oblivious' to buyout proximity

K3 says trustees of many small schemes are unaware they are within reach of buyout

Holly Roach
clock 17 July 2024 • 2 min read
DB transfer compensation continues to fall to record lows

DB transfer compensation continues to fall to record lows

Broadstone says there has been a ‘radical decline’ since the start of 2022

Martin Richmond
clock 15 July 2024 • 2 min read
Rise in number of DB schemes providing members with financial advice

Rise in number of DB schemes providing members with financial advice

Aon research finds two-fifths of members were provided with fully paid-for advice

Martin Richmond
clock 11 July 2024 • 3 min read
Trustpilot